Freddie Mac Survey Shows 30-Year Rate Is Slightly Lower

The average rate for a 30-year mortgage inched down a little further below 5% during the week ended March 11, according to Freddie Mac's Primary Mortgage Market Survey. "During a light week of mixed economic reports, mortgage rates eased somewhat," said Frank Nothaft, Freddie Mac vice president and chief economist. The average 30-year FRM rate was 4.95% compared to 4.97% the previous week and 5.03% a year ago. The average 15-year FRM rate was 4.32%, down from 4.33% the previous week and from 4.64% a year ago. The average rate for a five-year hybrid Treasury-indexed adjustable-rate mortgage was 4.05%, down from 4.11% the previous week and 4.99% a year ago. The average one-year Treasury ARM rate was 4.22%, down from 4.27% the previous week and 4.80% a year ago. Average points were 0.7 for 30- and 15-year FRMs, and 0.6 for five-year Treasury hybrids and one-year Treasury ARMs.